Corporation Tax Act 2009 (c. 4)

SCHEDULES

SCHEDULE 1 U.K. Minor and consequential amendments

Part 1 U.K. Income and Corporation Taxes Act 1988

1 U.K. The Income and Corporation Taxes Act 1988 (c. 1) is amended as follows.

2 (1) Amend section 6 (the charge to corporation tax and exclusion of income tax and capital gains tax) as follows. U.K.

(2) Omit subsections (1) to (3).

(3) In subsection (4) omit the words from “, sections” to “248”.

(4) Omit subsection (4A).

3 U.K. Omit section 8 (general scheme of corporation tax).

4 (1) Amend section 9 (computation of income: application of income tax principles) as follows. U.K.

(2) Omit subsections (1) to (4).

(3) In subsection (5) omit “, by virtue of this section or otherwise,”.

(4) Omit subsection (6).

5 U.K. In section 11 (companies not resident in United Kingdom) omit subsections (1) to (2A).

6 U.K. Omit section 11AA (determination of profits attributable to permanent establishment).

7 U.K. Omit section 12(1) to (7ZA) and (9) (basis of, and periods for, assessment).

8 U.K. Omit section 15 (Schedule A).

9 U.K. Omit section 18 (Schedule D).

10 U.K. Omit section 21A (computation of amount chargeable under Schedule A).

11 U.K. Omit section 21B (application of other rules applicable to Case I of Schedule D).

12 U.K. Omit section 21C (the Schedule A charge and mutual business).

13 (1) Amend section 24 (construction of Part 2) as follows. U.K.

(2) In subsection (1)—

F1 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) omit the definition of “premium”.

(3) Omit subsections (2) to (4).

(4) In subsection (5) omit the definitions of “intermediate landlord”, “premium” and “reversion”.

(5) Omit subsection (6)(a).

Textual Amendments

F1 Sch. 1 para. 13(2)(a) repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2) and said provision also repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22)

14 U.K. Omit section 30 (expenditure on making sea walls).

15 U.K. Omit sections 31ZA to 31ZC (deductions for expenditure on energy-saving items).

16 U.K. Omit sections 34 to 39 (premiums, leases at undervalue etc).

17 U.K. Omit section 40 (tax treatment of receipts and outgoings on sale of land).

18 (1) Amend section 42 (appeals against determinations under sections 34 to 36 of ICTA etc) as follows. U.K.

(2) Omit subsection (1)(a) and the “or” immediately after it.

(3) In the title omit “sections 34 to 36 or”.

19 U.K. Omit section 46 (savings certificates and tax reserve certificates).

20 U.K. Omit section 53 (farming and other commercial occupation of land (except woodlands)).

21 U.K. Omit section 55 (mines, quarries and other concerns).

22 (1) Amend section 56 (transactions in deposits with and without certificates or in debts) as follows. U.K.

(2) In subsection (2) for the words from “annual” to the end substitute “ an amount to which the charge to corporation tax on income applies ”.

(3) In subsection (4B) for “Chapter II of Part IV of the Finance Act 1996” and “that Chapter” substitute “ Part 5 of CTA 2009 ” and “ that Part ” respectively.

23 U.K. Omit section 70 (basis of assessment etc).

24 U.K. Omit section 70A (Case V income from land outside UK).

25 U.K. Omit section 72 (apportionments etc for purposes of Cases I, II and VI).

26 U.K. Omit section 74 (general rules as to deductions not allowable).

27 U.K. Omit section 75 (expenses of management: companies with investment business).

28 U.K. Omit section 75A (accounting period to which expenses of management are referable).

29 U.K. Omit section 75B (amounts reversing expenses of management deducted: charge to tax).

30 (1) Amend section 76 (expenses of insurance companies) as follows. U.K.

(2) In subsection (1) for “section 75 is not to apply” substitute “ sections 1219 to 1223 of CTA 2009 (expenses of management of a company's investment business) do not apply ”.

(3) In subsection (2) for the words from “paragraph 4(2)” to the end substitute “ section 388 of CTA 2009 (basic rule: deficit set off against income and gains of deficit period) ”.

(4) In subsection (4) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 (charge on trade profits) ”.

(5) At Step 2 in subsection (7)—

(a) in paragraph (a) for “in computing income for the purposes of Schedule A” substitute “ in computing, for corporation tax purposes, the profits of a UK property business ”, and

(b) in paragraph (c) for “section 121(3)” substitute “ section 272 of CTA 2009 ”.

(6) At Step 3 in subsection (7)—

(a) omit the entries relating to—

(i) paragraph 4(4)(b) of Schedule 11 to the Finance Act 1996,

(ii) paragraph 23 of Schedule 22 to the Finance Act 2001,

(iii) paragraph 13(2) of Schedule 12 to the Finance Act 2002, and

(iv) paragraph 36(3) of Schedule 29 to that Act, and

(b) at the end insert—

“section 391(3)(b) of CTA 2009 (carried forward non-trading deficit on loan relationships);

section 1080(2) of CTA 2009 (30% additional deduction for qualifying R&D expenditure of company carrying on life assurance business);

section 1161 of CTA 2009 (150% relief for remediation expenditure on contaminated land owned by company carrying on life assurance business).”

31 U.K. After section 76 insert—

“Payments for restrictive undertakings U.K.

76ZA Payments for restrictive undertakings

(1) This section applies if a payment—

(a) is treated as earnings of an employee by virtue of section 225 of ITEPA 2003 (payments for restrictive undertakings), and

(b) is made, or treated as made for the purposes of section 226 of that Act (valuable consideration given for restrictive undertakings), by a company in relation to which section 76 applies.

(2) The payment is treated as expenses payable which fall to be brought into account at Step 1 in section 76(7), so far as it otherwise would not be.”

32 U.K. After section 76ZA insert—

“Seconded employees U.K.

76ZB Employees seconded to charities and educational establishments

(1) This section applies if a company to which section 76 applies makes the services of a person employed for the purposes of the company's life assurance business available to—

(a) a charity, or

(b) an educational establishment,

on a basis that is stated and intended to be temporary.

(2) Expenses of the employer that are attributable to the employee's employment during the period of the secondment are treated as expenses payable which fall to be brought into account at Step 1 in section 76(7).

(3) In this section—

• “educational establishment” has the same meaning as in section 70 of CTA 2009, and

• “the period of the secondment” means the period for which the employee's services are made available to the charity or educational establishment.”

33 U.K. After section 76ZB insert—

“Counselling and retraining expenses U.K.

76ZC Counselling and other outplacement services

(1) This section applies if—

(a) a company carrying on life assurance business (“the employer”) incurs counselling expenses,

(b) the expenses are incurred in relation to a person (“the employee”) who holds or has held an office or employment under the employer, and

(c) the relevant conditions are met.

(2) The expenses are brought into account under section 76 as expenses payable (so far as they otherwise would not be).

(3) In this section “counselling expenses” means expenses incurred—

(a) in the provision of services to the employee in connection with the cessation of the office or employment,

(b) in the payment or reimbursement of fees for such provision, or

(c) in the payment or reimbursement of travelling expenses in connection with such provision.

(4) In this section “the relevant conditions” means—

(a) conditions A to D for the purposes of section 310 of ITEPA 2003 (employment income exemptions: counselling and other outplacement services), and

(b) in the case of travel expenses, condition E for those purposes.”

34 U.K. After section 76ZC insert—

“76ZD Retraining courses

(1) This section applies if—

(a) a company carrying on life assurance business (“the employer”) incurs training course expenses,

(b) they are incurred in relation to a person (“the employee”) who holds or has held an office or employment under the employer, and

(c) the relevant conditions are met.

(2) The expenses are brought into account under section 76 as expenses payable (so far as they otherwise would not be).

(3) In this section—

• “retraining course expenses” means expenses incurred in the payment or reimbursement of retraining course expenses within the meaning given by section 311(2) of ITEPA 2003, and

• “the relevant conditions” means—

  (a)

  the conditions in subsections (3) and (4) of section 311 of ITEPA 2003 (employment income exemptions: retraining courses), and

  (b)

  in the case of travel expenses, the conditions in subsection (5) of that section.”

35 U.K. After section 76ZD insert—

“76ZE Retraining courses: recovery of tax

(1) This section applies if—

(a) an employer's liability to corporation tax for an accounting period is determined on the assumption that it is entitled by virtue of section 76ZD to bring an amount into account in determining the amount of a deduction to be made under section 76, and

(b) without section 76ZD the employer would not have been so entitled.

(2) If, subsequently—

(a) the condition in section 311(4)(a) of ITEPA 2003 is not met because of the employee's failure to begin the course within the period of one year after ceasing to be employed, or

(b) the condition in section 311(4)(b) of ITEPA 2003 is not met because of the employee's continued employment or re-employment,

an assessment of an amount or further amount of corporation tax due as a result of the condition not being met may be made under paragraph 41 of Schedule 18 to FA 1998.

(3) Such an assessment must be made before the end of the period of 6 years immediately following the end of the accounting period in which the failure to meet the condition occurred.

(4) If subsection (2) applies, the employer must give an officer of Revenue and Customs a notice containing particulars of—

(a) the employee's failure to begin the course,

(b) the employee's continued employment, or

(c) the employee's re-employment,

within 60 days of coming to know of it.

(5) If an officer of Revenue and Customs has reason to believe that the employer has failed to give such a notice, the officer may by notice require the employer to provide such information as the officer may reasonably require for the purposes of this section about—

(a) the failure to begin the course,

(b) the continued employment, or

(c) the re-employment.

(6) A notice under subsection (5) may specify a time (not less than 60 days) within which the required information must be provided.”

36 U.K. After section 76ZE insert—

“Redundancy payments etc U.K.

76ZF Redundancy payments and approved contractual payments

(1) Sections 76ZG to 76ZI apply if—

(a) a company to which section 76 applies (“the employer”) makes a redundancy payment or an approved contractual payment to another person (“the employee”), and

(b) the payment is in respect of the employee's employment wholly in the employer's life assurance business or partly in the employer's life assurance business and partly in one or more other capacities.

(2) For the purposes of this section and sections 76ZG to 76ZH “redundancy payment” means a redundancy payment payable under—

(a) Part 11 of the Employment Rights Act 1996, or

(b) Part 12 of the Employment Rights (Northern Ireland) Order 1996.

(3) For the purposes of this section and those sections—

• “contractual payment” means a payment which, under an agreement, an employer is liable to make to an employee on the termination of the employee's contract of employment, and

• a contractual payment is “approved” if, in respect of that agreement, an order is in force under—

  (a)

  section 157 of the Employment Rights Act 1996, or

  (b)

  Article 192 of the Employment Rights (Northern Ireland) Order 1996.”

37 U.K. After section 76ZF insert—

“76ZG Payments in respect of employment wholly in employer's business

(1) This section applies if the payment is in respect of the employee's employment wholly in the employer's life assurance business.

(2) The payment is treated as expenses payable which fall to be brought into account at Step 1 in section 76(7), so far as it otherwise would not be.

(3) The amount brought into account by virtue of this section for an approved contractual payment must not exceed the amount which would have been due to the employee if a redundancy payment had been payable.

(4) If the payment is referable to an accounting period beginning after the business has permanently ceased to be carried on, it is treated as referable to the last accounting period in which the business was carried on.”

38 U.K. After section 76ZG insert—

“76ZH Payments in respect of employment in more than one capacity

(1) This section applies if the payment is in respect of the employee's employment with the employer—

(a) partly in the employer's life assurance business, and

(b) partly in one or more other capacities.

(2) The amount of the redundancy payment, or the amount which would have been due if a redundancy payment had been payable, is to be apportioned on a just and reasonable basis between—

(a) the employment in the life assurance business, and

(b) the employment in the other capacities.

(3) The part of the payment apportioned to the employment in the life assurance business is treated as a payment in respect of the employee's employment wholly in the life assurance business for the purposes of section 76ZG.”

39 U.K. After section 76ZH insert—

“76ZI Additional payments

(1) This section applies if the employer's business, or part of it, ceases (permanently) to be carried on and the employer makes a payment to the employee in addition to—

(a) the redundancy payment, or

(b) if an approved contractual payment is made, the amount that would have been due if a redundancy payment had been payable.

(2) If—

(a) the additional payment would not otherwise be regarded as expenses payable for the purposes of section 76, but

(b) that is only because the business, or the part of the business, has ceased to be carried on,

the additional payment is regarded as expenses payable for the purposes of section 76.

(3) So far as the additional payment would, apart from this subsection, be regarded as expenses payable for the purposes of Step 5 in subsection (7) of section 76, it is not to be so regarded for the purposes of that subsection (or of subsection (2) above so far as relating to section 76).

(4) The amount treated under this section as expenses payable for the purposes of section 76 is limited to 3 times the amount of—

(a) the redundancy payment, or

(b) if an approved contractual payment is made, the amount that would have been due if a redundancy payment had been payable.

(5) If the payment is referable to an accounting period beginning after the business or the part of the business has ceased to be carried on, it is treated as referable to the last accounting period in which the business, or the part concerned, was carried on.”

40 U.K. After section 76ZI insert—

“76ZJ Payments by the Government

(1) This section applies if—

(a) a redundancy payment or an approved contractual payment is payable by a company to which section 76 applies (“the employer”), and

(b) a payment to which subsection (2) applies is made in respect of the payment.

(2) This subsection applies to—

(a) payments made by the Secretary of State under section 167 of the Employment Rights Act 1996, and

(b) payments made by the Department for Employment and Learning under Article 202 of the Employment Rights (Northern Ireland) Order 1996.

(3) So far as the employer reimburses the Secretary of State or Department for the payment, sections 76ZG to 76ZI apply as if the payment were—

(a) a redundancy payment, or

(b) an approved contractual payment,

made by the employer.”

41 U.K. After section 76ZJ insert—

“Contributions to local enterprise organisations or urban regeneration companies U.K.

76ZK Contributions to local enterprise organisations or urban regeneration companies

(1) This section applies if a company to which section 76 applies (“the contributor”) incurs expenses in making a contribution (whether in cash or in kind)—

(a) to a local enterprise organisation, or

(b) to an urban regeneration company.

(2) The expenses are treated for the purposes of section 76 as expenses payable which fall to be brought into account at Step 1 in section 76(7).

(3) But if, in connection with the making of the contribution, the contributor or a connected person—

(a) receives a disqualifying benefit of any kind, or

(b) is entitled to receive such a benefit,

the amount treated in accordance with subsection (2) is restricted to the amount of the expenses less the value of the benefit.

(4) For this purpose it does not matter whether a person receives, or is entitled to receive, the benefit—

(a) from the local enterprise organisation or urban regeneration company concerned, or

(b) from anyone else.

(5) Subsection (6) applies if—

(a) an amount has been brought into account in accordance with subsection (2), and

(b) the contributor or a connected person receives a disqualifying benefit that is in any way attributable to the contribution.

(6) The contributor is to be treated as receiving, when the benefit is received, an amount—

(a) which is equal to the value of the benefit (so far as not brought into account in determining the amount of the deduction), and

(b) to which the charge to corporation tax on income applies.

(7) In this section—

• “disqualifying benefit” means a benefit the expenses of obtaining which, if incurred by the contributor directly in a transaction at arm's length, would not be expenses payable for the purposes of section 76,

• “local enterprise organisation” has the meaning given by section 83 of CTA 2009,

• “urban regeneration company” has the meaning given by section 86 of CTA 2009.

(8) Section 839 (“connected person”) applies for the purposes of subsections (3) and (5).”

42 U.K. After section 76ZK insert—

“Unpaid remuneration U.K.

76ZL Unpaid remuneration

(1) This section applies if—

(a) an amount is charged in respect of employees' remuneration in the accounts for a period of a company to which section 76 applies,

(b) the amount would apart from this section be brought into account under section 76 as expenses payable, and

(c) the remuneration is not paid before the end of the period of 9 months immediately following the end of the period of account.

(2) If the remuneration is paid after the end of that period of 9 months, the amount is brought into account for the period of account in which it is paid.

(3) But—

(a) subsection (2) is subject to section 86 of FA 1989 (spreading of relief for acquisition expenses), and

(b) in interpreting that section the remuneration is treated as expenses payable which fall to be included at Step 1 in section 76(7) for the period of account in which the remuneration is paid.

(4) The amount is not brought into account under section 76 as expenses payable if it is not paid.”

43 U.K. After section 76ZL insert—

“76ZM Unpaid remuneration: supplementary

(1) For the purposes of section 76ZL an amount charged in the accounts in respect of employees' remuneration includes an amount for which provision is made in the accounts with a view to its becoming employees' remuneration.

(2) For the purposes of section 76ZL it does not matter whether an amount is charged for—

(a) particular employments, or

(b) employments generally.

(3) If the profits of the company are calculated before the end of the 9 month period mentioned in section 76ZL(1)(c)—

(a) it must be assumed, in making the calculation, that any remuneration which is unpaid when the calculation is made will not be paid before the end of that period, but

(b) if the remuneration is subsequently paid before the end of that period, nothing in this subsection prevents the calculation being revised and any tax return being amended accordingly.

(4) For the purposes of this section and section 76ZL remuneration is paid when it—

(a) is treated as received by an employee for the purposes of ITEPA 2003 by section 18 or 19 of that Act (receipt of money and non-money earnings), or

(b) would be so treated if it were not exempt income.

(5) In this section and section 76ZL—

• “employee” includes an office-holder and “employment” therefore includes an office, and

• “remuneration” means an amount which is or is treated as earnings for the purposes of Parts 2 to 7 of ITEPA 2003.”

44 U.K. After section 76ZM insert—

“Car or motor cycle hire U.K.

76Z Car or motor cycle hire

(1) Subsection (2) applies if—

(a) in calculating the corporation tax to which a company is liable for an accounting period, an amount representing expenses incurred on the hiring of a car or motor cycle can be brought into account under section 76 as expenses payable,

(b) the car or motor cycle is not a qualifying hire car or motor cycle, and

(c) the retail price of the car or motor cycle when new exceeds £12,000.

(2) The amount that would otherwise be capable of being brought into account as expenses payable is reduced by multiplying the amount by the fraction—

where RP is the retail price of the car or motor cycle when new.

(3) Subsection (4) applies if an amount is reduced as a result of subsection (2), or a corresponding provision, and—

(a) subsequently—

(i) there is a rebate (however described) of the hire charges, or

(ii) a debt in respect of any of the hire charges is released otherwise than as part of a statutory insolvency agreement, and

(b) an amount is brought into account in respect of the rebate or release.

(4) For the purposes of subsection (3)(b) an amount is brought into account in respect of a rebate of hire charges or the release of a debt if—

(a) the amount of a reversal representing the rebate or release falls to be deducted under Step 4 in section 76(7), or

(b) (in the case of a rebate of hire charges) an amount representing the rebate is chargeable under section 85(1) of the Finance Act 1989 (c. 26).

(5) The amount that would otherwise be deductible as mentioned in subsection (4)(a) or chargeable as mentioned in subsection (4)(b) is reduced by multiplying it by the fraction set out in subsection (2).

(6) In this section “corresponding provision” means—

(a) section 56(2) of CTA 2009 (car or motor cycle hire: trade profits and property income),

(b) section 1251(2) of CTA 2009 (car or motor cycle hire: companies with investment business), and

(c) section 48(2) of ITTOIA 2005 (car or motor cycle hire: trade profits and property income).

(7) The power under section 74(4) of CAA 2001 to increase or further increase the sums of money specified in Chapter 8 of Part 2 of CAA 2001 includes the power to increase or further increase the sum of money specified in subsection (1)(c) or (2).

(8) In this section “car or motor cycle” and “qualifying hire car or motor cycle” have the meanings given by section 57 of CTA 2009.”

F2 45 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F2 Sch. 1 para. 45 omitted (with effect in accordance with Sch. 11 paras. 65-67 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 11 para. 64(b)

46 U.K. Omit section 76A (levies and repayments under FISMA 2000).

47 U.K. Omit section 76B (levies and repayments under the FISMA 2000: investment companies).

48 U.K. Omit section 79 (contributions to local enterprise agencies).

49 U.K. Omit section 79A (contributions to training and enterprise councils and local enterprise companies).

50 U.K. Omit section 79B (contributions to urban regeneration companies).

51 U.K. Omit section 82A (expenditure on research and development).

52 U.K. Omit section 82B (payments to research associations, universities etc).

53 U.K. Omit section 83 (patent fees etc and expenses).

54 U.K. Omit section 83A (gifts in kind to charities etc).

55 U.K. Omit section 84 (gifts to educational establishments).

56 (1) Amend section 84A (costs of establishing share option or profit sharing schemes: relief) as follows. U.K.

(2) In subsection (2)—

(a) in paragraph (a) omit “Schedule D or”,

(b) omit paragraph (b) and the “or” immediately before it, and

(c) omit paragraph (c).

(3) Omit subsection (3ZA)(b).

57 U.K. Omit section 85 (payments to trustees of approved profit sharing schemes).

58 U.K. Omit section 85A (costs of establishing employee share ownership trust: relief).

59 U.K. Omit section 85B (which introduces Schedule 4AA).

60 U.K. Omit section 86 (employees seconded to charities and educational establishments).

61 U.K. Omit section 86A (charitable donations: contributions to agent's expenses).

62 U.K. Omit sections 87 and 87A (taxable premiums etc).

63 U.K. Omit section 88 (payments to Export Credits Guarantee Department).

64 U.K. Omit section 88D (restriction of deductions in respect of certain debts).

65 U.K. Omit section 89 (debts proving to be irrecoverable after discontinuance etc).

66 U.K. Omit section 90 (additional payments to redundant employees).

67 U.K. Omit section 91 (cemeteries).

68 U.K. Omit section 91A (waste disposal: restoration payments).

69 U.K. Omit sections 91B and 91BA (waste disposal: preparation expenditure).

70 U.K. Omit section 91C (mineral exploration and access).

71 U.K. Omit section 92 (regional development grants).

72 U.K. Omit section 93 (other grants under Industrial Development Act 1982 etc).

73 U.K. Omit section 94 (debts deducted and subsequently released).

74 U.K. Omit section 95 (taxation of dealers in respect of distributions etc).

75 U.K. In section 95ZA(1) (taxation of UK distributions received by insurance companies) for “section 208” substitute “ section 1285 of CTA 2009 ”.

76 U.K. Omit section 97 (treatment of farm animals etc).

77 U.K. Omit section 98 (tied premises: receipts and expenses treated as those of trade).

78 U.K. Omit section 99 (dealers in land).

79 U.K. Omit section 100 (valuation of trading stock at discontinuance of trade).

80 U.K. Omit section 101 (valuation of work in progress at discontinuance of profession or vocation).

81 U.K. Omit section 102 (provisions supplementary to sections 100 and 101).

82 U.K. Omit sections 103 to 106 (Case VI charges on receipts).

83 U.K. Omit section 110 (interpretation etc).

84 U.K. Omit section 111(1) (treatment of partnerships).

85 U.K. Omit sections 114 and 115 (special rules for computing profits and losses).

F3 86 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F3 Sch. 1 para. 86 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

87 U.K. Omit section 118ZA (treatment of limited liability partnerships).

88 U.K. Omit section 119 (rent etc payable in connection with mines, quarries and similar concerns).

89 U.K. Omit section 120 (rent etc payable in respect of electric line wayleaves).

90 U.K. Omit section 121 (management expenses of owner of mineral rights).

91 U.K. Omit section 122 (relief in respect of mineral royalties).

92 U.K. Omit section 125 (annual payments for dividends or non-taxable consideration).

93 U.K. Omit section 128(2) and (3) (commodity and financial futures etc: losses and gains).

94 (1) Amend section 130 (meaning of “company with investment business” and “investment company” in Part 4) as follows. U.K.

(2) Omit “ “company with investment business” means any company whose business consists wholly or partly in the making of investments”.

(3) For the title substitute “ Meaning of “investment company” in Part 4 ”.

95 U.K. In section 187(10) (interpretation of sections 185 and 186) for “, within the meaning of section 486,” substitute “ , as defined in section 834(1) ”.

96 U.K. Omit section 208 (UK company distributions not generally chargeable to corporation tax).

F4 97 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 Sch. 1 paras. 97-102 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F4 98 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 Sch. 1 paras. 97-102 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F4 99 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 Sch. 1 paras. 97-102 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F4 100 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 Sch. 1 paras. 97-102 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F4 101 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 Sch. 1 paras. 97-102 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F4 102 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F4 Sch. 1 paras. 97-102 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

103 U.K. Omit section 337 (company beginning or ceasing to carry on trade).

104 (1) Amend section 337A (computation of company's profits or income: exclusion of general deductions) as follows. U.K.

(2) Omit subsection (1)(a).

(3) In subsection (2)—

F5 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) omit paragraph (b) and the “and” immediately before it.

Textual Amendments

F5 Sch. 1 para. 104(3)(a) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 12 (with Sch. 9 paras. 1-9, 22)

F6 105 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F6 106 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F6 107 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F6 108 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F6 109 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F6 110 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F6 111 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F6 112 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F6 113 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F6 Sch. 1 paras. 105-113 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

114 U.K. In section 398(b) for “Schedule D” substitute “ Part 5 of CTA 2009 (loan relationships) ”.

F7 115 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F7 Sch. 1 para. 115 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F8 116 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F8 Sch. 1 para. 116 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

117 U.K. Omit section 401 (relief for pre-trading expenditure).

F9 118 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Sch. 1 paras. 118-124 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F9 119 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Sch. 1 paras. 118-124 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F9 120 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Sch. 1 paras. 118-124 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F9 121 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Sch. 1 paras. 118-124 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F9 122 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Sch. 1 paras. 118-124 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F9 123 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Sch. 1 paras. 118-124 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F9 124 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F9 Sch. 1 paras. 118-124 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

125 U.K. In section 414(1)(b) (close companies) omit “within the meaning of section 486(12)”.

126 (1) Amend section 431 (interpretation of provisions relating to insurance companies) as follows. U.K.

(2) In subsection (2)—

(a) in paragraph (b) of the definition of “free assets amount” for “Chapter 2 of Part 4 of the Finance Act 1996” substitute “ Part 5 of CTA 2009 (see section 303 of that Act) ”,

(b) in the definition of “the I minus E basis” for “Case I of Schedule D” substitute “ section 35 of CTA 2009 (charge on trade profits) ”,

(c) at the appropriate place insert—

““life assurance trade profits provisions” means the provisions applicable for the purposes of the taxation under section 35 of CTA 2009 (charge on trade profits) of the profits of life assurance business carried on by an insurance company;”, and

(d) in the definition of “net value” for “Chapter 2 of Part 4 of the Finance Act 1996” substitute “ Part 5 of CTA 2009: see section 303 of that Act ”.

(3) In subsection (2YC)(a) omit “under Schedule A or Case III, V or VI of Schedule D”.

(4) In subsection (2YD)(a) for “paragraph 4 of Schedule 11 to the Finance Act 1996” substitute “ sections 387 to 391 of CTA 2009 ”.

127 (1) Amend section 431G (company carrying on life assurance business) as follows. U.K.

(2) In subsection (3) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 (charge on trade profits) ”.

(3) In subsection (4) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 ”.

(4) In subsection (5) for “provision of Case I of Schedule D” substitute “ of the life assurance trade profits provisions ”.

128 U.K. In section 431H(3) (company carrying on life assurance business and other insurance business) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 (charge on trade profits) ”.

129 (1) Amend section 432YA (long-term business other than life assurance business_adjustment consequent on change in Insurance Prudential Sourcebook) as follows. U.K.

(2) In subsection (2) for “to Case I of Schedule D” substitute “ for the purposes of section 35 of CTA 2009 (charge on trade profits) ”.

(3) In subsection (6) for paragraph (b) and the word “and” immediately before it substitute—

“(b) the reference in section 82E(4) to life assurance business were a reference to PHI business, and

(c) the reference in section 82E(7) to the life assurance trade profits provisions were a reference to the provisions applicable for the purposes of section 35 of CTA 2009.”

130 (1) Amend section 432A (apportionment of income and gains) as follows. U.K.

(2) In subsection (1ZA)—

(a) in paragraph (a) for “Schedule A in respect of any separate Schedule A” substitute “ Chapter 3 of Part 4 of CTA 2009 (profits of a property business) in respect of any separate UK property ”,

(b) for paragraph (b) substitute—

“(b) income chargeable under Chapter 3 of Part 4 of CTA 2009 in respect of distributions treated by section 121(1)(a) of the Finance Act 2006 as profits of a UK property business carried on by the company,”,

(c) in paragraph (c) for “Case V of Schedule D” substitute “ Chapter 3 of Part 4 of CTA 2009 ”,

(d) for paragraph (d) substitute—

“(d) income chargeable under Chapter 2 of Part 10 of CTA 2009 (dividends of non-UK resident companies) or Chapter 6 of that Part (sale of foreign dividend coupons),

(da) income chargeable under Chapter 7 of Part 10 of CTA 2009 (annual payments not otherwise charged) or Chapter 8 of that Part (income not otherwise charged) which arises from a source outside the United Kingdom,”,

(e) in paragraph (f) for “Chapter 2 of Part 4 of the Finance Act 1996” substitute “ Part 5 of CTA 2009 ”,

(f) in paragraph (g) for “Schedule 26 to the Finance Act 2002” substitute “ Part 7 of CTA 2009 ”,

(g) in paragraph (h) for the words from “Case III” to the end substitute “ Chapter 5 of Part 10 of CTA 2009 (distributions from unauthorised unit trusts) or Chapter 7 of that Part (annual payments not otherwise charged) ”,

(h) in paragraph (i) for “Part 3 of Schedule 29 to FA 2002” substitute “ Chapter 2 of Part 8 of CTA 2009 ”, and

(i) in paragraph (j) for “Case VI of Schedule D” substitute “ any provision to which section 834A (miscellaneous charges) applies ”.

(3) In subsection (1ZB)—

(a) in paragraph (a) for “Schedule A businesses” substitute “ UK property businesses ”,

(b) in paragraph (c) for “Chapter 2 of Part 4 of the Finance Act 1996” substitute “ Part 5 of CTA 2009 ”,

(c) in paragraph (d) for “Schedule 26 to the Finance Act 2002” substitute “ Part 7 of CTA 2009 ”,

(d) in paragraph (e) for “Part 2 of Schedule 29 to FA 2002” substitute “ Chapter 3 of Part 8 of CTA 2009 ”, and

(e) in paragraph (f) for “Case VI of Schedule D” substitute “ any provision to which section 834A applies ”.

131 (1) Amend section 432AA (Schedule A business or overseas property business) as follows. U.K.

(2) In subsection (1) for “is treated as carrying on separate Schedule A businesses or overseas property businesses” substitute “ is treated (despite sections 205 and 206 of CTA 2009) as carrying on separate UK property businesses or overseas property businesses ”.

(3) For the title substitute “ UK property business or overseas property business ”.

132 (1) Amend section 432AB (losses from Schedule A business or overseas property business) as follows. U.K.

(2) In subsection (1) for “Schedule A business” substitute “ UK property business ”.

(3) In subsection (4)(a) for “Schedule A business” substitute “ UK property business ”.

(4) In the title for “Schedule A business” substitute “ UK property business ”.

133 U.K. In section 434(1) (franked investment income etc) for “provisions applicable to Case I of Schedule D” substitute “ life assurance trade profits provisions ”.

134 (1) Amend section 434A (computation of losses and limitation of relief) as follows. U.K.

(2) In subsection (2) for the words “provisions of this Act applicable to Case I of Schedule D” substitute “ life assurance trade profits provisions ”.

(3) In subsection (2A)—

(a) omit the words from “which” to “1996”, and

(b) for “Chapter II of Part IV of that Act” substitute “ Part 5 of CTA 2009 ”.

135 (1) Amend section 436A (gross roll-up business: separate charge on profits) as follows. U.K.

(2) For subsection (1) substitute—

“(1) The charge to corporation tax on income applies to profits arising to an insurance company from gross roll-up business.”

(3) In subsection (2)(b) for “provisions of this Act applicable to Case I of Schedule D” substitute “ life assurance trade profits provisions ”.

(4) In subsection (7) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 (charge on trade profits) ”.

136 U.K. In section 440(6) (transfers of assets etc) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 (charge on trade profits) ”.

137 U.K. In section 440A(7) (securities) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 (charge on trade profits) ”.

138 (1) Amend section 440B (modifications where tax charged under Case I of Schedule D) as follows. U.K.

(2) In subsection (1) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 (charge on trade profits) ”.

(3) In subsection (4A) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 ”.

(4) In subsection (4B) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 ”.

(5) In the title for “Case I of Schedule D” substitute “ section 35 of CTA 2009 ”.

139 (1) Amend section 440C (modifications for change of tax basis) as follows. U.K.

(2) In subsection (1)(b) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 (charge on trade profits) ”.

(3) In subsection (4)—

(a) in paragraph (a) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 ”, and

(b) in paragraph (c) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 ”.

(4) In subsection (6)(b) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 ”.

(5) In subsection (7)(b) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 ”.

140 U.K. In section 442(2) (overseas business of UK companies) for “of this Act applicable to Case I of Schedule D” substitute “ applicable for the purposes of section 35 of CTA 2009 (charge on trade profits) ”.

141 U.K. In section 442A(1) (taxation of investment return where risk reinsured) for “Case VI of Schedule D” substitute “ the charge to corporation tax on income ”.

142 (1) Amend section 444AZA (transfers of life assurance business: Case VI losses of the transferor) as follows. U.K.

(2) In subsection (1)(c) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 (charge on trade profits) ”.

(3) In subsection (2)—

(a) for “ “Case VI loss”” substitute “ “qualifying loss of the transferor” ”, and

(b) omit “(a “Case I loss”)”.

(4) In subsection (4) for “Case VI loss” substitute “ qualifying loss of the transferor ”.

(5) In the title for “Case VI” substitute “ gross roll-up business ”.

143 (1) Amend section 444AZB (transfers of life assurance business: Case I losses of the transferor) as follows. U.K.

(2) In subsection (1)(b) for “in accordance with Case I of Schedule D” substitute “ under section 35 of CTA 2009 (charge on trade profits) ”.

(3) In subsection (2)—

(a) for “ “Case I loss”” substitute “ “qualifying loss of the transferor” ”, and

(b) omit “(a “Case VI loss”)”.

(4) In subsection (4) for “Case I loss” substitute “ qualifying loss of the transferor ”.

(5) In the title for “Case I” substitute “ trade ”.

144 U.K. In section 444ABD(1A) (transferor's period of account including transfer)—

(a) for “in accordance with Case I of Schedule D”, in the first place where it occurs, substitute “ under section 35 of CTA 2009 (charge on trade profits) ”, and

(b) for “in accordance with Case I of Schedule D”, in the second place where it occurs, substitute “ under section 35 of that Act ”.

145 (1) Amend section 444AEA (transfer schemes: anti-avoidance rule) as follows. U.K.

(2) In subsection (1)—

(a) in paragraph (a) for “Case I” substitute “ life assurance trade profits ”, and

(b) in paragraph (b) omit “Case I”.

(3) In subsection (3)—

(a) for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

(b) omit “transferor's Case I”.

(4) In subsection (4)—

(a) for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

(b) omit “transferee's Case I”.

146 (1) Amend section 444AEB (Case I advantage: transferor) as follows. U.K.

(2) In subsection (1)—

(a) for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

(b) in paragraphs (a) and (b) for “Case I” substitute “ section 35 ”.

(3) In subsection (2)—

(a) for “a Case I advantage” substitute “ a life assurance trade profits advantage ”,

(b) for “the Case I advantage” substitute “ the advantage ”, and

(c) in paragraphs (a) and (b) for “Case I” substitute “ section 35 ”.

(4) In subsection (4)—

(a) for “ “Case 1 profits”” substitute “ “section 35 profits” ”,

(b) for “ “Case 1 losses”” substitute “ “section 35 losses” ”, and

(c) for “provisions of Case I of Schedule D” substitute “ life assurance trade profits provisions ”.

(5) In the title for “Case I” substitute “ Life assurance trade profits ”.

147 (1) Amend section 444AEC (Case I advantage: transferee) as follows. U.K.

(2) In subsection (1)—

(a) for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

(b) in paragraphs (a) and (b) for “Case I” substitute “ section 35 ”.

(3) In subsection (2)—

(a) for “a Case I advantage” substitute “ a life assurance trade profits advantage ”,

(b) for “the Case I advantage” substitute “ the advantage ”, and

(c) in paragraphs (a) and (b) for “Case I” substitute “ section 35 ”.

(4) In subsection (4) for “Case I”, in both places where it occurs, substitute “ section 35 ”.

(5) In the title for “Case I” substitute “ Life assurance trade profits ”.

148 (1) Amend section 444AECA (parts of transfer scheme arrangements: anti-avoidance rule) as follows. U.K.

(2) In subsection (1)—

(a) in paragraph (a) for “Case I” substitute “ life assurance trade profits ”, and

(b) in paragraph (b) omit “Case I”.

(3) In subsection (3)—

(a) for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

(b) omit “transferor's Case I”.

(4) In subsection (4)—

(a) for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

(b) omit “transferee's Case I”.

149 (1) Amend section 444AECB (parts of transfer scheme arrangements: Case I advantage transferor) as follows. U.K.

(2) In subsection (1)—

(a) for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

(b) in paragraphs (a) and (b) for “Case I” substitute “ section 35 ”.

(3) In subsection (2)—

(a) for “Case I profits” substitute “ section 35 profits ”,

(b) for “Case I losses” substitute “ section 35 losses ”, and

(c) for “Case I advantage” substitute “ life assurance trade profits advantage ”.

(4) In subsection (3)—

(a) for “a Case I advantage” substitute “ a life assurance trade profits advantage ”,

(b) for “the Case I advantage” substitute “ the advantage ”, and

(c) in paragraphs (a) and (b) for “Case I” substitute “ section 35 ”.

(5) In subsection (5)—

(a) for “a Case I advantage” substitute “ a life assurance trade profits advantage ”, and

(b) for “the Case I advantage” substitute “ the advantage ”.

(6) In subsection (6) for “Case I”, in both places where it occurs, substitute “ section 35 ”.

(7) In the title for “Case I” substitute “ life assurance trade profits ”.

150 (1) Amend section 444AECC (parts of transfer scheme arrangements: Case I advantage transferee) as follows. U.K.

(2) In subsection (1)—

(a) for “Case I advantage” substitute “ life assurance trade profits advantage ”, and

(b) in paragraphs (a) and (b) for “Case I” substitute “ section 35 ”.

(3) In subsection (2)—

(a) for “Case I profits” substitute “ section 35 profits ”,

(b) for “Case I losses” substitute “ section 35 losses ”, and

(c) for “Case I advantage” substitute “ life assurance trade profits advantage ”.

(4) In subsection (3)—

(a) for “a Case I advantage” substitute “ a life assurance trade profits advantage ”,

(b) for “the Case I advantage” substitute “ the advantage ”, and

(c) in paragraphs (a) and (b) for “Case I” substitute “ section 35 ”.

(5) In subsection (5) for “Case I”, in both places where it occurs, substitute “ section 35 ”.

(6) In the title for “Case I” substitute “ life assurance trade profits ”.

151 (1) Amend section 444AED (clearance: no avoidance or group advantage) as follows. U.K.

(2) In subsection (2) for “Case I”, in both places where it occurs, substitute “ life assurance trade profits ”.

(3) In subsection (3) for “Case I”, in both places where it occurs, substitute “ life assurance trade profits ”.

152 U.K. In section 444AF(5) (demutualisation surplus: life assurance business)—

(a) in paragraph (a) for “provisions of this Act applicable to Case I of Schedule D” substitute “ life assurance trade profits provisions ”, and

(b) in paragraph (b) omit “under Case VI of Schedule D”.

153 U.K. In section 444AH (modification of section 444AG etc for Case VI businesses) in the heading for “Case VI” substitute “ gross roll-up ”.

154 U.K. In section 444AK(3) (mutual surplus: gross roll-up business) for “provisions of this Act applicable to Case I of Schedule D” substitute “ life assurance trade profits provisions ”.

155 U.K. In section 444BA(1) (equalisation reserves for general business) for “Case I or V of Schedule D” substitute “ section 35 of CTA 2009 (charge on trade profits) ”.

156 U.K. In section 444BB(2) (modification of section 444BA for mutual or overseas business and for non-resident companies) for “to Case I of Schedule D” substitute “ for the purposes of section 35 of CTA 2009 (charge on trade profits) ”.

157 U.K. Omit section 469(4A) to (5) and (6) (other unit trusts).

158 U.K. Omit section 472A (trading profits etc from securities: taxation of amounts taken to reserves).

159 U.K. Omit section 473 (conversion etc of securities held as circulating capital).

160 U.K. In section 475 (tax-free Treasury securities: exclusion of interest on borrowed money)—

F10 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) in subsection (2), omit paragraph (b) and the “and” immediately before it, and

(c) in subsection (4) omit the words from “or to be brought” to the end.

Textual Amendments

F10 Sch. 1 para. 160(a) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 12 (with Sch. 9 paras. 1-9, 22)

161 U.K. In section 477A (building societies: loan relationships), omit subsections (3)(a) and (aa), (4) and (10).

162 U.K. Omit section 477B (incidental costs of issuing qualifying shares).

163 (1) Amend section 486 (industrial and provident societies and co-operative associations) as follows. U.K.

(2) In subsection (1), omit from the word “but” to the end.

(3) Omit subsections (4) and (7).

(4) Omit subsections (10) and (11).

(5) In subsection (12) omit the definition of “registered industrial and provident society”.

164 U.K. Omit section 487 (credit unions).

165 U.K. Omit section 491 (distribution of assets of body corporate carrying on mutual business).

F11 166 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11 Sch. 1 paras. 166-171 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F11 167 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11 Sch. 1 paras. 166-171 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F11 168 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11 Sch. 1 paras. 166-171 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F11 169 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11 Sch. 1 paras. 166-171 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F11 170 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11 Sch. 1 paras. 166-171 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F11 171 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F11 Sch. 1 paras. 166-171 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

172 U.K. In section 503(1)(a) (letting of furnished holiday accommodation treated as a trade for certain corporation tax purposes)—

(a) for “Schedule A business” substitute “ UK property business ”, and

(b) for “trade the profits of which are chargeable to corporation tax under Case I of Schedule D,” substitute “ trade carried on wholly or partly in the United Kingdom the profits of which are chargeable to corporation tax under Part 3 of CTA 2009, ”.

173 U.K. Omit section 504 (meaning of “commercial letting of furnished holiday accommodation”).

F12 174 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F12 Sch. 1 para. 174 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F13 175 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F13 Sch. 1 para. 175 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

176 U.K. Omit section 509 (reserves of marketing boards etc).

F14 177 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F14 Sch. 1 para. 177 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F15 178 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F15 Sch. 1 para. 178 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

179 U.K. Omit section 524 (taxation of receipts from sale of patent rights).

180 U.K. Omit section 525 (capital sums: winding up or partnership change).

181 U.K. Omit section 526 (relief for expenses).

182 U.K. Omit section 528 (manner of making allowances and charges).

183 U.K. Omit section 531 (provisions supplementary to section 530).

184 U.K. Omit section 532 (application of Capital Allowances Act).

185 U.K. Omit section 533 (interpretation of sections 520 to 532).

186 U.K. Omit section 556 (activity treated as trade etc and attribution of income).

187 U.K. Omit section 558(5) and (6) (visiting performers: supplementary provisions).

188 U.K. In section 568(1) (deductions from profits of contributions paid under certified schemes)—

(a) omit “section 74 of this Act or”,

(b) after “section 33 of ITTOIA 2005” insert “ or section 53 of CTA 2009 (no deduction for capital expenditure) ”, and

(c) for “under Case I of Schedule D or under Part 2 of ITTOIA 2005,” substitute “ under Part 2 of ITTOIA 2005 or Part 3 of CTA 2009, ”.

189 U.K. In section 570(4) (payments under certified schemes which are not repayments of contributions), in the words after paragraph (c), for the words from “section 337(1)” to the end substitute “ section 18 of ITTOIA 2005 or section 41 of CTA 2009 (company starting or ceasing to be within charge to corporation tax) is to be treated as effecting a cessation of trading. ”

190 (1) Amend section 571 (cancellation of certificates) as follows. U.K.

(2) In subsection (1) omit the words from “(in” to “Schedule D)”.

(3) After subsection (1A) insert—

“(1B) So far as relating to corporation tax, the charge to tax under subsection (1) has effect as an application of the charge to corporation tax on income.”

191 U.K. Omit section 577 (business entertaining expenses).

192 U.K. Omit section 577A (expenditure involving crime).

193 U.K. Omit section 578 (housing grants).

194 U.K. Omit sections 578A and 578B (expenditure on car hire).

195 U.K. Omit sections 579 and 580 (statutory redundancy payments).

196 U.K. Omit section 582 (funding bonds issued in respect of interest on certain debts).

197 U.K. Omit section 584 (relief for unremittable overseas income).

198 U.K. Omit sections 586 and 587 (disallowance of deductions for war risk premiums and of certain payments in respect of war injuries to employees).

199 U.K. In section 587B(2)(b) (gifts of shares, securities and real property to charities etc) for “section 83A,” substitute “ section 105 of CTA 2009 (gifts of trading stock to charities etc), ”.

200 U.K. Omit section 588 (training courses for employees).

201 U.K. Omit section 589A (counselling services for employees).

202 U.K. Omit section 589B(5) (interpretation of section 589A).

203 U.K. Omit section 617 (social security benefits and contributions).

204 U.K. Omit section 695 (limited interests in residue).

205 U.K. Omit section 696 (absolute interests in residue).

206 U.K. Omit section 697 (supplementary provisions as to absolute interests in residue).

207 U.K. Omit section 698 (special provisions as to certain interests in residue).

208 U.K. Omit section 699A (untaxed sums comprised in the income of the estate).

209 U.K. In section 700 (adjustments and information)—

(a) omit subsections (1) to (3),

(b) in subsection (4) omit “this Part or”,

F16 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F17 (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F16 Sch. 1 para. 209(c) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 12 (with Sch. 9 paras. 1-9, 22)

F17 Sch. 1 para. 209(d) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 12 (with Sch. 9 paras. 1-9, 22)

210 U.K. Omit section 701 (interpretation).

211 U.K. Omit section 702 (application to Scotland).

212 U.K. In section 703(3) (cancellation of corporation tax advantage) omit the words from “(the amount” to “accordingly)”.

F18 213 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F18 Sch. 1 para. 213 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F19 214 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F19 Sch. 1 para. 214 omitted (with effect in accordance with Sch. 25 para. 10 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 25 para. 9(3)(i)

F20 215 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F20 Sch. 1 para. 215 omitted (retrospective and with effect in accordance with Sch. 24 paras. 12, 13-16 of the commencing Act) by virtue of Finance Act 2009 (c. 10), Sch. 24 paras. 9(f), 12 and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

216 U.K. In section 736C(9) (deemed interest: cash collateral under stock lending arrangements)—

(a) in paragraph (a) for “Chapter 2 of Part 4 of the Finance Act 1996” substitute “ Part 5 of CTA 2009 ”, and

(b) in paragraph (b) for “section 100” to “lending of money)” substitute “ Chapter 2 of Part 6 of that Act applies (relevant non-lending relationships) ”.

217 U.K. In section 747(1B) (controlled foreign companies: company residence for purposes of Chapter), for “section 249 of the Finance Act 1994” substitute “ section 18 of CTA 2009 ”.

218 U.K. In section 751(3) (controlled foreign companies: accounting periods) for “subsections (3), (5) and (7) of section 12” substitute “ sections 10(1) and (5), 11(1) and (2) and 12 of CTA 2009 ”.

219 (1) Amend section 755A (treatment of chargeable profits and creditable tax apportioned to company carrying on life assurance business) as follows. U.K.

(2) In subsection (5) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 (charge on trade profits) ”.

(3) In subsection (7) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 ”.

(4) In subsection (11BA)—

(a) for “Case I profits”, in both places where it occurs, substitute “ section 35 profits ”, and

(b) for “provisions applicable to Case I of Schedule D” substitute “ life assurance trade profits provisions ”.

220 (1) Amend section 761 (charge to income tax or corporation tax of offshore income gain) as follows. U.K.

(2) In subsection (1)(b)(ii) for “as a profit or gain under Case VI of Schedule D” substitute “ , under the charge to corporation tax on income, ”.

(3) In subsection (2) for “section 11(2A)(c)” substitute “ section 19(3)(c) of CTA 2009 ”.

F21 221 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F21 Sch. 1 paras. 221-224 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F21 222 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F21 Sch. 1 paras. 221-224 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F21 223 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F21 Sch. 1 paras. 221-224 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F21 224 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F21 Sch. 1 paras. 221-224 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

225 U.K. In section 774(1) (transactions between dealing company and associated company) for “Case VI of Schedule D” substitute “ the charge to corporation tax on income ”.

F22 226 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F22 Sch. 1 paras. 226-229 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2) and repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 10 (with Sch. 9 paras. 1-9, 22)

F22 227 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F22 Sch. 1 paras. 226-229 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2) and repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 10 (with Sch. 9 paras. 1-9, 22)

F22 228 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F22 Sch. 1 paras. 226-229 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2) and repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 10 (with Sch. 9 paras. 1-9, 22)

F22 229 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F22 Sch. 1 paras. 226-229 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2) and repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 10 (with Sch. 9 paras. 1-9, 22)

F23 230 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F23 Sch. 1 para. 230 omitted (with effect in accordance with Sch. 25 para. 10 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 25 para. 9(3)(i)

F24 231 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F24 Sch. 1 para. 231 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

232 (1) Amend section 779 (sale and lease-back: limitation on tax reliefs) as follows. U.K.

F25 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) In subsection (13)—

(a) omit paragraph (a),

F26 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(c) in paragraph (d) leave out “75 or”, and

F27 (d) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F25 Sch. 1 para. 232(2) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

F26 Sch. 1 para. 232(3)(b) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

F27 Sch. 1 para. 232(3)(d) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

F28 233 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F28 Sch. 1 para. 233 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

234 (1) Amend section 781 (assets leased to traders and others) as follows. U.K.

(2) In subsection (1) omit the words from “(in” to “Schedule D)”.

F29 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) In subsection (4)—

F30 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) in paragraph (c) leave out “75 or”, and

F31 (c) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F29 Sch. 1 para. 234(3) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

F30 Sch. 1 para. 234(4)(a) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

F31 Sch. 1 para. 234(4)(c) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

235 U.K. In section 782(9) (leased assets: special cases) omit the words from “, and where” to the end.

F32 236 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F32 Sch. 1 para. 236 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 9 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

237 U.K. In section 785ZA(3) (restrictions on use of losses: leasing partnerships) for “section 114(2)” substitute “ sections 1262 to 1264 of CTA 2009 ”.

238 U.K. In section 785ZB(8) (section 785ZA: definitions)—

(a) in paragraph (a) for “(Schedule A losses)” substitute “ (UK property business losses) ”, and

(b) in paragraph (d) for “(Case VI losses)” substitute “ (losses from miscellaneous transactions) ”.

239 U.K. In section 785C(4)(a) (section 785B: interpretation) for “under Schedule A” substitute “ under Chapter 3 of Part 4 of CTA 2009 as profits of a UK property business ”.

240 U.K. In section 785D(3) (section 785B: lease of plant and machinery and other property) for “under Schedule A” substitute “ under Chapter 3 of Part 4 of CTA 2009 as profits of a UK property business ”.

F33 241 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F33 Sch. 1 para. 241 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 10 (with Sch. 9 paras. 1-9, 22) and provision also repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 2 (with Sch. 2)

242 (1) Amend section 787 (restriction of relief for payments of interest) as follows. U.K.

F34 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) Omit subsection (1A).

(4) In subsection (2) omit “or total profits”.

(5) Omit subsection (3).

Textual Amendments

F34 Sch. 1 para. 242(2) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 12 (with Sch. 9 paras. 1-9, 22)

243 U.K. In section 788(7) (relief by agreement with other territories) omit the words from “, and, in” to the end.

244 U.K. In section 790(11) (unilateral relief) omit the words from “, and, in” to the end.

F35 245 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F35 Sch. 1 para. 245 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F36 246 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F36 Sch. 1 para. 246 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

247 (1) Amend section 797A (foreign tax on items giving rise to a non-trading credit: loan relationships) as follows. U.K.

F37 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(3) In subsection (2)—

F38 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(b) omit “and gains”.

F39 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F39 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F39 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F39 (7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F39 (8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F37 Sch. 1 para. 247(2) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F38 Sch. 1 para. 247(3)(a) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F39 Sch. 1 para. 247(4)-(8) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F40 248 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F40 Sch. 1 paras. 248-251 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F40 249 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F40 Sch. 1 paras. 248-251 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F40 250 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F40 Sch. 1 paras. 248-251 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F40 251 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F40 Sch. 1 paras. 248-251 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F41 252 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F41 Sch. 1 paras. 252-254 omitted (with effect in accordance with Sch. 14 para. 31 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 14 para. 30(e)

F41 253 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F41 Sch. 1 paras. 252-254 omitted (with effect in accordance with Sch. 14 para. 31 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 14 para. 30(e)

F41 254 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F41 Sch. 1 paras. 252-254 omitted (with effect in accordance with Sch. 14 para. 31 of the amending Act) by virtue of Finance Act 2009 (c. 10), Sch. 14 para. 30(e)

F42 255 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 256 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 257 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 258 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 259 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 260 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 261 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 262 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 263 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

F42 264 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F42 Sch. 1 paras. 255-264 repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

265 U.K. Omit section 817 (deductions not to be allowed in computing profits or gains).

266 U.K. In section 821(1)(a) (under-deductions from payments made before passing of annual Act) omit “under under Case III of Schedule D”.

267 (1) Amend section 826 (interest on tax overpaid) as follows. U.K.

(2) In subsection (1)—

(a) in paragraph (d) for “Schedule 20 to the Finance Act 2000” substitute “ Chapter 2 or 7 of Part 13 of CTA 2009 ”,

(b) omit paragraph (da), and

(c) in paragraph (e) for “Schedule 22 to the Finance Act 2001” substitute “ Part 14 of CTA 2009 ”.

(3) Omit subsection (3AA).

(4) Omit subsections (5) and (5A).

(5) In subsection (7C)—

(a) in paragraph (b) for “section 83(2)(c) of the Finance Act 1996 or paragraph 4(3) of Schedule 11 to that Act” substitute “ section 389(1) or 459(1)(b) of CTA 2009 ”, and

(b) in the words following paragraph (c) for “section 83(2)(c) of that Act or, as the case may be, paragraph 4(3) of Schedule 11 to that Act” substitute “ section 389(1) or 459(1)(b) of CTA 2009 ”.

(6) In subsection (8A)—

(a) in paragraph (a) for “(d), (da)” substitute “ , (d) ”, and

(b) in paragraph (b)(ii), omit “, tax credit under Schedule 13 to the Finance Act 2002”.

(7) In subsection (8BA), omit (in both places) “, tax credit under Schedule 13 to the Finance Act 2002”.

268 U.K. Omit section 827 (VAT penalties etc).

269 (1) Amend section 828 (orders and regulations made by the Treasury or the Board) as follows. U.K.

(2) In subsection (4) omit “79B(5),”.

(3) In subsection (5)—

(a) for “or section 717 of ITEPA 2003” substitute “ , section 717 of ITEPA 2003 or section 1310 of CTA 2009 ”,

(b) in paragraph (a) for “or ITEPA 2003” substitute “ , ITEPA 2003 or CTA 2009 ”, and

(c) in paragraph (b) for “either” substitute “ any ”.

270 U.K. Omit section 830(2) to (4) (territorial sea and designated areas).

271 U.K. In section 831(3) (interpretation of ICTA) before the definition of “ITEPA 2003” insert—

““CTA 2009” means the Corporation Tax Act 2009;”.

F43 272 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F43 Sch. 1 paras. 272-277 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F43 273 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F43 Sch. 1 paras. 272-277 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F43 274 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F43 Sch. 1 paras. 272-277 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F43 275 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F43 Sch. 1 paras. 272-277 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F43 276 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F43 Sch. 1 paras. 272-277 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F43 277 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F43 Sch. 1 paras. 272-277 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

278 U.K. Omit Schedule A1 (determination of profits attributable to permanent establishment: supplementary provisions).

279 U.K. Omit Schedule 4AA (share incentive plans: corporation tax deductions).

280 U.K. Omit Schedule 5 (treatment of farm animals etc for purposes of Case I of Schedule D).

281 U.K. In paragraph 13(3) of Schedule 18A (group relief: overseas losses of non-resident companies) for “Schedule A purposes” substitute “ the purpose of calculating the profits of a UK property business under Part 4 of CTA 2009 ”.

282 (1) Amend Schedule 19ABA (modification of life assurance provisions of the Corporation Tax Acts in relation to BLAGAB group reinsurers) as follows. U.K.

F44 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F44 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(4) In paragraph 23 for “Case I” substitute “ life assurance trade ”.

(5) In the italic cross-heading before paragraph 23 for “Case I” substitute “ life assurance trade ”.

Textual Amendments

F44 Sch. 1 para. 282(2) (3) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 1 (with Sch. 9 paras. 1-9, 22)

283 U.K. In paragraph 6(6)(b) of Schedule 19B (petroleum extraction activities: exploration expenditure supplement), at the end insert “ or starts to be within the charge to corporation tax in respect of such a ring fence trade. ”

F45 284 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F45 Sch. 1 para. 284 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

F46 285 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F46 Sch. 1 para. 285 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

286 (1) Amend Schedule 24 (assumptions for calculating chargeable profits, creditable tax and corresponding United Kingdom tax of foreign companies) as follows. U.K.

(2) In paragraph 1(3) (general) for “section 154(2) of the Finance Act 1996” substitute “ section 1279 of CTA 2009 ”.

(3) In paragraph 12 (unremittable overseas income)—

(a) for “section 584” substitute “ Part 18 of CTA 2009 ”,

(b) for “paragraph (a) or paragraph (b) of subsection (1) of that section” substitute “ section 1274(3) or (4) of that Act ”, and

(c) for the words from “a notice” to “given” substitute “ a claim under section 1275 of that Act (claim for relief for unremittable income) may be made ”.

287 (1) Amend Schedule 25 (cases where section 747(3) does not apply) as follows. U.K.

(2) In paragraph 2(1A)—

(a) for paragraph (a) substitute—

“(a) it is chargeable neither under Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom nor under section 436A (gross roll-up business: separate charge on profits);”, and

(b) in paragraph (b) for the words from “Case I” to “above” substitute “ Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom, or under section 436A ”.

(3) In paragraph 2(1B)(a) for “section 208” substitute “ section 1285 of CTA 2009 ”.

(4) In paragraph 4(1A)—

(a) for paragraph (a) substitute—

“(a) it is chargeable neither under Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom nor under section 436A (gross roll-up business: separate charge on profits);”, and

(b) in paragraph (b) for the words from “Case I” to “above” substitute “ Chapter 2 of Part 3 of CTA 2009 as profits of a trade carried on wholly or partly in the United Kingdom, or under section 436A ”.

(5) In paragraph 12(6) for “Case I of Schedule D” substitute “ section 35 of CTA 2009 ”.

288 U.K. In Schedule 26 (reliefs against liability for tax in respect of chargeable profits) in paragraph 1(3)(c) for “section 75(1)” substitute “ section 1219(1) of CTA 2009 ”.

289 (1) Amend Schedule 27 (distributing funds) as follows. U.K.

(2) In paragraph 1(1)(d)(ii)—

(a) omit the words from “in accordance” to “(Schedule D)”,

(b) for “Case III of Schedule D” substitute “ Part 5 of CTA 2009 (loan relationships) or Chapter 7 of Part 10 of that Act (annual payments not otherwise charged) ”, and

(c) for “Case V of Schedule D” substitute “ Chapter 2 of Part 10 of CTA 2009 (dividends of non-UK resident companies) or Chapter 8 of that Part (income not otherwise charged) ”.

(3) For the heading for paragraph 3 substitute “ Certain foreign income ”.

(4) In paragraph 3(1)(aa)—

(a) in sub-paragraph (i) for “Case III of Schedule D” substitute “ Part 5 of CTA 2009 (loan relationships) or Chapter 7 of Part 10 of that Act (annual payments not otherwise charged) ”, and

(b) in sub-paragraph (ii) for “Case V of Schedule D” substitute “ Chapter 2 of Part 10 of CTA 2009 (dividends of non-UK resident companies) or Chapter 8 of that Part (income not otherwise charged) ”.

(5) In paragraph 4(3)(b) for “section 75” substitute “ section 1219 of CTA 2009 ”.

(6) In paragraph 5(3)—

(a) in paragraph (c) for “section 208” substitute “ section 1285 of CTA 2009 ”,

(b) in paragraph (d) for “Chapter 2 of Part 4 of the Finance Act 1996” substitute “ Part 5 of CTA 2009 ”, and

(c) in paragraph (e) for “Schedule 26 to the Finance Act 2002” substitute “ Part 7 of CTA 2009 ”.

(7) In paragraph 5(5) for “section 154(2) of the Finance Act 1996” substitute “ section 1279 of CTA 2009 ”.

F47 290 U.K. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F47 Sch. 1 para. 290 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 3 Pt. 1 (with Sch. 2)

291 (1) Amend Schedule 28AA (provision not at arm's length) as follows. U.K.

F48 (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F48 (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F48 (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(5) In paragraph 6E—

(a) omit “Case III of Schedule D or”, and

F49 (b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F50 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(7) Omit paragraph 8(1), (3) and (4).

F51 (8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

F48 Sch. 1 para. 291(2)-(4) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 2 (with Sch. 9 paras. 1-9, 22)

F49 Sch. 1 para. 291(5)(b) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 2 (with Sch. 9 paras. 1-9, 22)

F50 Sch. 1 para. 291(6) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 2 (with Sch. 9 paras. 1-9, 22)

F51 Sch. 1 para. 291(8) repealed (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 10 Pt. 2 (with Sch. 9 paras. 1-9, 22)

292 (1) Amend Schedule 30 (transitional provisions and savings) as follows. U.K.

(2) Omit paragraphs 2 to 4.

(3) Omit paragraph 5.

(4) In paragraph 7(5)(b) after “business” insert “ , or begins to carry on a trade, ”.